Across-the-Board Cuts Needed to Avoid Fiscal Armageddon

Although the Congressional Budget Office has estimated that the federal budget deficit will soar to a peacetime record $1.5 trillion in 2011, President Barack Obama has offered a puny proposal to freeze domestic discretionary spending (excludes huge entitlement programs, such as Medicare, Medicaid, and Social Security) for five years. This proposal sounds much bolder than … Continue reading “Across-the-Board Cuts Needed to Avoid Fiscal Armageddon”